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mahatmakanejeeves

(71,411 posts) Mon Jun 15, 2026, 05:41 AM 7 hrs ago

Oil Prices Tumble and Stocks Surge After Trump Announces Deal With Iran

Source: New York Times

Oil Prices Tumble and Stocks Surge After Trump Announces Deal With Iran

By Rebecca F. Elliott and Joe Rennison
Published June 14, 2026
Updated June 15, 2026, 5:06 a.m. ET

Oil prices fell and stocks rose on Monday after the United States and Iran reached an agreement that President Trump said would reopen the Strait of Hormuz.

Mr. Trump’s social media post capped weeks of fraught negotiations between the countries that, at times, seemed to make little progress. A key mediator in the peace talks, Pakistan's prime minister, said the agreement covered Lebanon and that a signing ceremony was scheduled for Friday in Switzerland.

The specifics of the agreement remained unclear, but restoring shipping through the strait, the strategic passageway that functions as the primary artery for oil and natural gas from the Middle East, has been among Mr. Trump’s top priorities.

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Read more: https://www.nytimes.com/2026/06/14/business/oil-stocks-gas-iran.html

https://www.nytimes.com/by/rebecca-f-elliott
https://www.nytimes.com/by/joe-rennison

7 replies

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Highlight:

Oil Prices Tumble and Stocks Surge After Trump Announces Deal With Iran (Original Post) mahatmakanejeeves 7 hrs ago OP

Again.................... Lovie777 7 hrs ago #1

They will crow about this as a "victory"... forgotmylogin 7 hrs ago #2

I worked in the Oil and Gas industry for 30 years... CapnSteve 2 hrs ago #3

This would make a really great and timely OP for everyone, CapnSteve ... littlemissmartypants 2 hrs ago #6

Will do, smarty pants! :-) CapnSteve 59 min ago #7

More stock market manipulation. travelingthrulife 2 hrs ago #4

There's no fucking "deal" here,just a load of word salad that will Bengus81 2 hrs ago #5

Lovie777

(24,205 posts)

1. Again....................

Reply to mahatmakanejeeves (Original post)

Mon Jun 15, 2026, 05:42 AM

7 hrs ago

forgotmylogin

(7,971 posts)

2. They will crow about this as a "victory"...

Reply to mahatmakanejeeves (Original post)

Mon Jun 15, 2026, 05:49 AM

7 hrs ago

...but none of it ever needed to happen.

CapnSteve

(418 posts)

3. I worked in the Oil and Gas industry for 30 years...

Reply to mahatmakanejeeves (Original post)

Mon Jun 15, 2026, 10:09 AM

2 hrs ago

...and I was asked many, many times: "when the price of oil falls, why doesn't the price of gas fall as well?"

The answer is surprisingly simple: The price of a barrel of oil is based on speculation - will the future price of oil increase or decrease? It is commodity traders placing bets based on nebulous, often unreliable data. Like the effect of the 39 claims that the Straight of Hormuz with open, OPEC limiting production, or predictions of a harsh winter in Europe, etc.

The price of a gallon of gas is only based on "what the market will bear." Just like any other consumer product, businesses (in this case gas stations) charge as much as they can to maximize profit. They only back off the higher price when it decreases sales. You will see local gas stations compete for customers by lowering their prices a few cents here and there.

Oil companies raised gas prices using the excuse of Trump's war on Iran. Now, "what the market will bear" has been set well over $1.50 per gallon more that before. The price of gas may come down a bit, less than 50 cents a gallon, but the new normal has been set for the market.